Xinyi Glass announces preliminary results of scrip dividend scheme

Xinyi Glass Holdings Limited has announced the preliminary results of its scrip dividend scheme, with each qualifying shareholder having an option to elect to receive an interim dividend in cash payment of HK cents 11.0 per share, or by way of an allotment and issue of scrip shares.

Xinyi Glass Holdings Limited, a leading integrated high-quality float glass, automobile glass, energy saving construction glass and solar glass manufacturer, has announced the preliminary results of its scrip dividend scheme.
Under the scrip dividend scheme announced in the Group’s 2011 interim results, each qualifying shareholder has an option to elect to receive an interim dividend in cash payment of HK cents 11.0 per share, or by way of an allotment and issue of scrip shares. The scrip shares are to be issued at HKD 4.54 per share.
The nine major shareholders of the Group, including Lee Yin Yee, M.H. (chairman), Tung Ching Bor (vice chairman), Tung Ching Sai (chief executive officer) and Lee Sing Din, have submitted their election forms to Computershare with all Xinyi Glass shares under their BVI investment companies electing to receive scrip shares. The value of the scrip shares elected by these nine major shareholders amounted to approximately HKD 210 million, representing more than 52% of the total qualified entitlement shares.
These nine major shareholders have also purchased more than 43 million shares of Xinyi Glass on the open market since 2 August, after the interim results announcement.
Their election in favour of the Group’s scrip dividend scheme and continuous share purchases have demonstrated their commitment to the Group as well as their confidence in the Group’s business development strategy and prospects.